The “new normal” creates opportunities if you know where to look, says a senior executive , Worldcargonews reported.
APM Terminals’ COO Richard Mitchell was speaking on 12 April at the opening session of the 12th Annual Global Liner Conference in London about the container port industry and opportunities in 2010.
“The port industry and liner industry are closely intertwined and facing extraordinary times. In the good old days, markets were growing 10-15% every year. Last year, we witnessed the first ever decline in global container port volumes – estimated at 10%," said Mitchell.
"Volumes were hit in the developed world and in Eastern Europe, while Africa, the Indian Subcontinent and the Middle East fared best. Now – in the new normal – markets will grow slower. The opportunities are different now, there’s more uncertainty and slower growth in mature markets compared to emerging markets.
“Emerging markets offer higher growth opportunities than developed markets in 2010 since their decline in 2009 was not as severe – and they’re expected to recover faster. It’s also important to note – emerging markets have the highest levels of potential growth as the wealth of individuals improves in emerging nations over time."